E.P.Frank Australian Property Investment
PO Box 256, Coorparoo 4151 Qld, Australia, Tel. +617 3843 1495, Fax +617 3398 7271 Email: australien@vona-z.net,www.vona-z.net
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E.P.Frank Australian Property Investment PO Box 256, Coorparoo 4151 Qld, Australia, Tel. +617 3843 1495, Fax +617 3398 7271 Email: australien@vona-z.net,www.vona-z.net
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  Fax: +617 33987271
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TEMPORARY RESIDENCE IN
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 | Be 55 or older | ||||
| Have no dependent children or other dependent family members and if married or in a de facto relationship, your partner has no such dependents | ||||
| Have sufficient capital for transfer to Australia:
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| Have no intention of working in Australia | ||||
| Be of good health and character | ||||
| Have adequate health Insurance |
If your application is approved you will be allowed to come to Australia initially for 4 years. Once in Australia, after the initial four years you may apply for further stays. Visa for further stays will usually be granted for two years and can be obtained at the DIMA Office in Brisbane.
You must take out private medical and hospital health care insurance cover in Australia or make other arrangements in your home country. You will not be covered by Medicare (Australia's national health cover)
Private health cover costs about AUD$ 350 to 450.-- per month per couple, inc. Optometrist, dentist, alternative medicine, etc.
You are not entitled to any Australian social security benefits.
Yes, but you should seek further advice from the FIRB (Foreign Investment Review Board). Together with the contract you apply for permission from FIRB, the contract is subject to approval.
We take care of all this for you.
In principle, you are not allowed to buy a used house. But you may buy vacant land and have a house built, thus contributing to our local economy. By doing this, you own a freehold, unconditional property, that can be rented, sold or owned beside others as an investment.
But if you get permission to buy a preoccupied house, you cannot rent it out nor buy and sell it for capital gains. You must sell again when you leave the country.
Even without migration you may invest in Australia, Non-Australians can buy real estate, whether land or house or farm or any other business and sell at any time taking profit.
There is no permission for Non-Australians to buy a used house or unit, unless "of the plan". You must start building within one year after buying vacant land.
To buy an established business or a farm is always possible, as commercial and farming properties are not affected.
Regular income is taxed similar to Europe or other countries. It is different with pensions, please ask. For example from 1st of July 2000 the income tax would be appro. 12.5% for a couple with an income of AUD$ 45'000
General: as temporary resident you only pay tax on income derived in Australia. Money transfer from your overseas account is of course not income. Non-Australians only pay a flat 10% tax on interests, withheld by your local bank in Australia.
If you transfer large amounts of money and you are living here all year round you most likely pay no tax at all other than on interest received in Australia.
When purchasing there is a once only stamp duty of appro. 2.5 % of the purchase price.
Thereafter you only pay the annual council rates AUD$ 1000-1500.--/year for an average size house depending on valuer general index and local council. These rates include all taxes, fire levy, waste collection and metered water consumption.
When selling you may have to pay capital gains tax on your profit at your marginal tax rate. Capital losses can be offset against any capital gains. Please obtain details from your accountant/tax agent.
Good used cars range from AUD$ 5'000 to AUD$ 15'000. Petrol is still only half the European prices. Comprehensive Insurance is quite reasonable., eg Ford, 3.9litres, 6 cyl., 40% AUD$ 480.-- pa. In general your former "no claim" bonus will be transferred.
House Insurance is very affordable, building and contents appro. AUD$ 390.-- pa subject to "sum insured".
Basic needs often less expensive than in Europe with much better quality and availability of meat, produce and seafood
The easiest way to travel: up to 3 months directly available from your travel agency. Anything over 3 month you must contact your nearest Australian Embassy for Application
The Australian Government is promoting a relatively new retirement visa. The number of successful applications has doubled from 1994 to 1998. The application for a retirement visa is quite easy to do (contrary to most of the other visa classes) and if there is proof of sufficient funds there is usually no major problem expected.
This is only an overview. There are other classes under which you may be eligible to come to Australia.
Your nearest Australian Embassy will be happy to provide further information on various visa categories, conditions and application forms. For some categories we recommend the assistance of a registered migration agent, please contact us anytime if you need help.
If you have Internet access, please visit the Australian government website under www.immi.gov.au . You can even print out most application forms.
Disclaimer: The information and figures contained in this publication have been compiled from information supplied by various sources. No warranty is given to the accuracy and all figures are subject to change without notice.
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